John McAuliffe and partners have put to market their Royal Hotel at Taree, on the banks of the Manning River, as business back in Sydney calls.
Taree LGA is a mid-north NSW precinct around 300 kilometres north of Sydney, with local population of around 26,000.
The two-storey Royal stands prominently in the centre of the retail strip on main drag Victoria Street through town, on a 1,638sqm block.
It offers a quality bar operation and beer garden with stunning views over the River, gaming room with 12 machines in smoking solution, function area, eight accommodation rooms and three-bedroom manager’s residence.
McAuliffe and business partners bought the pub as a passive freehold investment in 2006, but after a number of years tenanted, his experience was called upon last year to rescue the flailing operation.
The business has become a strong supporter of local sporting teams, and fostered a family-friendly atmosphere with 7-day-a-week specials in the bistro.
Marketing literature shows average weekly revenue for the second half of FY19 north of $28k, and price expectation of $3.7 million.
“It’s going so well,” offers McAuliffe. “This time last year it averaged about $4.5k a week, April quarter was far better, so it’s still spiralling up.”
McAuliffe is eager to get back to his lucrative roofing business in Sydney, and the freehold owners determined to propose the Royal to a hot market, listing with Manenti Quinlan’s Jeremy Cusack and Leonard Bongiovanni.
“The Hotel occupies a prime site on the foreshore of the Manning River and offers tremendous potential, having been underperforming for many years,” says Cusack.
“It is starting to benefit from improvements made by the vendor, which an incoming operator will inherit.”
The freehold going concern of the Royal Hotel Taree is being sold by Private Treaty.
